Core Insights - ReNew Energy Global Plc (NASDAQ:RNW) is recognized as one of the 12 most promising clean energy stocks by Wall Street analysts [1][2] Company Overview - ReNew Energy Global Plc focuses on generating power through renewable energy sources in India, with a diverse portfolio that includes wind, solar, hydro, transmission lines, and manufacturing segments [2] - The company operates a clean energy portfolio exceeding 18.46 gigawatts [2] Recent Developments - On September 29, ReNew Energy announced it received $100 million in investment proceeds from British International Investment (BII) to accelerate its solar manufacturing business in India [2] - In July, a consortium proposed to buy out ReNew Energy for $3.2 billion, which includes Abu Dhabi Future Energy Company PJSC-Masdar and the Canada Pension Plan Investment Board [2] Financial Guidance - During the second quarter results presentation, ReNew Energy reiterated its guidance for FY 26, expecting adjusted EBITDA to be at the higher end of INR 87 billion to INR 93 billion, contingent on weather and asset sales [3] - The company anticipates constructing between 1.6 to 2.4 gigawatts during the year and generating cash flow to equity of INR 14 billion to INR 17 billion [3]

Core Viewpoint - The recent large-scale blackout in Spain and Portugal is being scrutinized, with critics attributing it to the aggressive renewable energy transition strategy of the Spanish government, which they argue neglects the fundamental stability of the power grid [2][5]. Group 1: Incident Overview - On Monday, a significant blackout occurred in Spain, causing the country to disconnect from the European grid, impacting millions and marking one of the most severe power outages in Europe in nearly two decades [1]. - The blackout's effects were felt across the Iberian Peninsula, with energy supply gradually restoring by the evening, but full recovery may take several days [1]. Group 2: Historical Context - A historical reference is made to a similar incident in July 2021, where a water bomber accidentally damaged a high-voltage transmission line, leading to a significant power outage in Spain and Portugal [3]. - The 2021 incident highlighted the vulnerability of the Iberian Peninsula's power grid, which has a low inertia and limited frequency control reserves, leading to severe consequences during system disturbances [3]. Group 3: Technical Analysis - Experts argue that the root cause of the recent blackout is not solely due to the energy transition but rather the inherent weaknesses in the power grid itself [5]. - The blackout was attributed to "strong oscillations" in the grid, stemming from a significant imbalance between power generation and load demand, exacerbated by extreme temperature fluctuations [7][8]. Group 4: Structural Issues - Spain's geographical isolation as an "energy island" with limited interconnections to the European grid is a fundamental issue contributing to its grid's fragility [7]. - The current interconnection capacity between Spain and the European grid is only about 7.5% of its peak load, significantly below the EU's target of 15% by 2030 [7]. Group 5: Climate Challenges - The increasing frequency and intensity of extreme weather events due to climate change pose a common challenge for power grids, as evidenced by the recent heatwave in Spain [8]. - Simplistic attributions of power outages to renewable energy sources can mislead public perception and policy direction, as seen in past incidents in other regions [8].